Updated over 9 years ago on . Most recent reply
Portfolio Loans 2016
Recently I spent a few months searching for financing now that I am maxed out with my 10 Fannie Mae loans. I have checked with the big national lenders such as b2r, colony, Visio, Lima who charge 6-7 percent and 3-4 points. Let me tell you its like pulling teeth trying to get a rate and fee quote (yes I totally understand that rates change and it is dependent on a variety of asset factors)
I did find one small credit union that gave me 5.25% 80 LTV 25 year amortization, 5 year ARM, and only 0.5 point fee - problem is they are restricted to certain states.
Call me lazy but I don't really have the time to cold call the hundreds of banks (https://www5.fdic.gov/idasp/main.asp) to see if they have a portfolio loan program works for me in the markets I invest in. What have you found in terms of portfolio lenders - please PM me and lets get a think tank going?
Birmingham, Atlanta, Indianapolis, Memphis, Kansas CIty
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Lane,
Do you buy your homes from TK providers or on your own using a Realtor?
- Curt Davis
